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ERISA Attorney

Great Gray Trust

in Boston MA / Las Vegas NV / Wilmington DE / Hybrid

Logo for Great Gray Trust

Why Great Gray?

At Great Gray Trust Company, we strive to set the bar for the retirement services industry.  Our goal is to deliver advanced retirement solutions that combine our core fiduciary services with robust investment options, innovative technology, and dedicated client service.  We focus on making choices clearer, transitions smoother, and the client experience more delightful.  Complacency isn't in our vocabulary.  Every day, we look for opportunities to better serve our clients, be an excellent business partner, and earn the trust of those who rely on us. 

Company Background 

Great Gray Trust Company is the leading independent provider of trustee and administrative services to Collective Investment Trusts (“CITs”), with over $175 billion in CIT assets, across more than 700 funds. We proudly work with 75 subadvisors, including leading firms such as Alliance Bernstein, American Funds, BlackRock, Franklin Templeton, MetLife, Neuberger Berman, PGIM, PIMCO and Raymond James. 

CITs are more than just an investment vehicle.  They represent a forward-thinking approach to retirement planning. These tax-exempt, pooled investment vehicles are offered to employer-sponsored retirement plans, like 401Ks.  CITs are comparable to mutual funds, but, because they are tailored for the institutional retirement market, they can offer distinct advantages, including efficient administration and cost-effectiveness.  CITs have a history dating back over 90 years; but they have gained favor over the past decade, driven by innovations, and Great Gray has been at the forefront.

Great Gray has consistently delivered year-over-year growth at an above market rate and is investing in the continued development of its core CIT business as well as complementary administrative services and technology solutions for the retirement market.

Madison Dearborn Partners (“MDP”) purchased Great Gray from Wilmington Trust in April 2023.  As a result, Great Gray is an independent company owned by funds affiliated with MDP.

Investor Background 

MDP is a leading private equity investment firm based in Chicago.  Since MDP's formation in 1992, the firm has raised aggregate capital of over $28 billion and has completed over 150 platform investments.  MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media, and technology services.

The Role

The Senior Counsel – Collective Investment Trust and Administrative Services will be a member of the Great Gray Legal team, whose primary responsibility will be to advise and support our trust and administrative services businesses, at all levels of the organization, in a rapidly evolving, high-growth environment.  The Senior Counsel will advise representatives of other functions on legal matters affecting Great Gray and partner with them to support Great Gray’s current and new business activities. The Senior Counsel will also help develop and execute plans, policies, and procedures for Great Gray’s Legal team and may represent the Legal team on various internal working groups and committees. 

The ideal candidate will have a mix of law firm and in-house legal experience, business acumen, a commitment to operational excellence, and strong technical, analytical and communication skills combined with the confidence and emotional intelligence needed to influence organizational outcomes. In summary, we seek an experienced, strong, collaborative attorney, with integrity, who can work effectively across Great Gray.  It is likely that the right candidate is currently with a financial services company or leading law firm.

Location

The preference is to have the Senior Counsel – Collective Investment Trust and Administrative Services based in Boston, MA, Wilmington, DE, or Las Vegas, NV.  Great Gray currently supports a hybrid work model with 4 days onsite and 1 day remote.

Responsibilities 

  • Advise and support the trust and administrative services business, counsel various internal working groups and committees and employees at all levels of Great Gray.
  • Support for our trust business will focus primarily on CIT matters such as eligibility and investment questions, applications for IRS determination letters of tax-exempt status, securities and commodities law exemptions and state blue sky compliance matters, as well as negotiating and drafting agreements with sub-advisers, insurance companies, trading platforms, custodians, recordkeepers and other administrative service providers.
  • Support for our administrative services business will focus primarily on CITs trusteed by other banks and other collective investment products. 
  • Serve as a subject matter expert on various legal and regulatory matters affecting the business, including asset management, capital markets, distribution, ERISA and state law matters.
  • Provide legal support for special projects, such as (i) new services, products, and partnerships, (ii) M&A, (iii) reviewing, rationalizing, and updating template contracts and administrative forms used by the businesses, and (iv) defining requirements for and implementing technology solutions to enhance efficiency. 
  • Represent the company in external engagements with various parties, including clients, business partners, regulators, trade associations and outside counsel.
  • Stay abreast of new laws, regulations, and industry trends, and recommend responses.
  • Review and negotiate a wide range of legal agreements and other documents essential to the operation of the business.
  • Partner with compliance, risk, and audit groups as appropriate.
  • The Senior Counsel role is a hands-on position.  A successful candidate will be eager and able to move seamlessly between advising on strategic issues and doing the legal work required to support the commercial business.

Qualifications & Experience

  • JD from an accredited law school
  • Minimum of 8 years of experience as an attorney, with a combination of experience in a large law firm and a corporate legal department preferred.
  • Admission to a state bar
  • Significant experience in financial services, with asset management and ERISA subject matter expertise strongly preferred. Experience advising on transactions involving plan assets subject to ERISA and the Internal Revenue Code
  • In-depth experience drafting, reviewing and negotiating a wide range of contracts. 
  • Private fund experience preferred.
  • New product/service development and M&A experience preferred.
  • Ability to identify legal issues, evaluate legal risks, and offer solutions.
  • Strong interpersonal, organizational, and negotiation skills.
  • Strong analytical and decision-making skills.
  • Excellent written and verbal communication skills and the ability to communicate effectively with all levels of Great Gray and with external stakeholders.
  • Excited to work in a high growth, dynamic, and sometimes uncertain environment.    
  • Exhibits our Great Gray attributes: Results-Driven, Innovative, Resilient and Decisive.  

How to Apply

Apply Now


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